Google Unveils New Nexus 7 Tablet, and Chromecast for Wireless Web TV

Jacob Harper |

Google Inc. ($GOOG) isn’t afraid to dive head-first into product lines they have little experience in. The tech giant has already diversified from search into production with acquisitions of cell maker Motorola Mobility and rumors of an upcoming gaming device. On July 24, Google made two simultaneous hardware announcements and released both a new version of their tablet and a wireless computer-to-TV device, signaling they are taking the move into hardware very seriously indeed.

Nexus 7 Tablet Thinner, Faster... More Expensive

The tablet was the latest version of the Nexus 7, calling it “the world’s highest resolution 7 inch tablet.” The tablet seriously undercuts the Apple (AAPL) iPad, whose latest version, the iPad 4, retails for $499. With the Nexus, Google is throwing their support behind a growing trend that favors low-end, affordable tech over the more sophisticated gadgets that made Apple such a force in the tech market.

The tablet is thinner and faster than its previous incarnation, but is slightly more expnsive. The tablet will retail for $229, $30 more than the previous incarnation. Google has also released an update of Android to coincide with the release of the tablet.

Analyst Patrick Moorhead of Moor Insights and Strategy thinks this is just an initial price, and that Google will drop it to around $200 around Christmas season.

Google Unveils Wireless Device that Connects Internet and Television for $35

Google simultaneously unveiled Chromecast, a small device that allows users to easily stream video onto their TV. Chromecast capitalizes on an ongoing sea change in viewer habits, as more and more consumers watch content on their computers. The device wirelessly transmits computer video to a a television via an HDMI outlet.

The device is being promoted in a cross-promotional effort with streaming content provider Netflix Inc. (NFLX) as buyers get a free three-month trial of Netflix with the purchase of the device. Existing subscribers are allowed to take advantage of the offer. Netflix currently holds over 30 million subscribers.

The device is compatible with Apple iOS and Android, and will retail for $35.

Google's stock is down 1.12 percent to hit $892.50 a share. The stock is up 28.48 percent on the year.

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Symbol Name Price Change % Volume
AAPL Apple Inc. 112.03 1.00 0.90 11,270,929
GOOG Alphabet Inc. 774.91 3.72 0.48 513,177
NFLX Netflix Inc. 124.22 -1.17 -0.93 4,025,384
PTTRY Pt Trada Maritime Unsp/Ad n/a n/a n/a 0

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